Morgan Stanley Issues Positive Forecast for Cheesecake Factory (NASDAQ:CAKE) Stock Price

Cheesecake Factory (NASDAQ:CAKE) had its price objective raised by investment analysts at Morgan Stanley from $37.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the restaurant operator’s stock. Morgan Stanley’s price target suggests a potential downside of 26.61% from the stock’s previous close.

CAKE has been the subject of a number of other reports. Wedbush upped their price target on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America upped their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price objective on Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Piper Sandler lifted their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.19.

Cheesecake Factory Stock Up 0.4 %

Cheesecake Factory stock traded up $0.21 during mid-day trading on Thursday, reaching $54.50. 992,050 shares of the company’s stock were exchanged, compared to its average volume of 1,366,328. The company has a fifty day moving average of $50.96 and a 200-day moving average of $45.25. The company has a market cap of $2.78 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. Cheesecake Factory has a twelve month low of $33.05 and a twelve month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business had revenue of $920.96 million during the quarter, compared to analysts’ expectations of $912.67 million. Sell-side analysts expect that Cheesecake Factory will post 3.32 EPS for the current year.

Hedge Funds Weigh In On Cheesecake Factory

A number of large investors have recently modified their holdings of CAKE. Foundations Investment Advisors LLC acquired a new stake in Cheesecake Factory during the 3rd quarter worth approximately $227,000. New York State Teachers Retirement System grew its stake in Cheesecake Factory by 5.5% during the third quarter. New York State Teachers Retirement System now owns 77,660 shares of the restaurant operator’s stock worth $3,149,000 after buying an additional 4,053 shares during the period. Oak Harvest Investment Services acquired a new stake in shares of Cheesecake Factory in the third quarter worth $345,000. Harbor Capital Advisors Inc. raised its stake in shares of Cheesecake Factory by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after acquiring an additional 532 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Cheesecake Factory by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator’s stock valued at $10,364,000 after acquiring an additional 22,416 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.